African Metals Corporation (“AFR”) is pleased to report updated resource estimation figures by Geosure Exploration & Mining Solutions Pty Ltd, independent geological consultants, for its Luisha South Project. The revised resource as estimated includes an Inferred 14.7 Million tonnes at 1.1% Cu for 161,700 tonnes of contained copper metal (up 114% from previous estimate) and 0.3% Co for 44,100 tonnes of contained cobalt metal (up 90% from previous estimate).
The revised resource as estimated includes:
An Inferred 14.7 Million tonnes at 1.1% Cu for 161,700 tonnes of contained copper metal and 0.3% Co for 44,100 tonnes of contained cobalt metal.
Resource modelling was also completed at various cut off grades as presented in Table One, and includes a higher grade Inferred resource of some 0.2 Million tonnes at 2.3% Cu and 0.5% Co for 4,600 tonnes of contained copper metal and 1,000 tonnes of contained cobalt metal.
The resources stated above are approximately double those which the company had targeted through its second round of drilling at the Luisha South Project and includes significant tonnages of lower grade material from the hanging wall mineralised zone as well as depth continuation of higher grade mineralisation from the footwall zone. The majority of the resource estimate incorporates veined and disseminated chalcopyrite and carrolite sulphide mineralization, with oxide malachite and heterogenite mineralization predominantly in the footwall zone, beneath the base of the pit, and near surface on the hanging wall.
Nigel Ferguson, CEO and President of African Metals Corp, commented:
“The Company is very pleased with this resource update, which is expected to continue to grow in the coming months. A drill rig will be mobilising to site prior to the wet season starting in November to infill and extend zones of mineralisation untested by the previous Reverse Circulation (RC) and Diamond drilling programs. Management expects further increases in the total contained metal content estimated for the Luisha South Project and conversion of resource material from Inferred to Indicated and possibly Measured resource category. Concurrently the Company will continue surface drilling to seek extensional mineralisation outside the current resource area. Mineralization remains open at depth, to the south and to the southeast.”
“AFR has achieved great success in the field and with a larger resource estimate the company is hopeful that this will support commercial operations to upgrade the copper and cobalt mineralisation through a DMS concentration plant and subsequent floatation circuits. The Company is targeting concentrate production by the end of Q3, 2011.”
MINERAL RESOURCE MODEL
Luisha South Diamond Drilling
Rubaco Sprl and DrillTek Sprl, drilling contractors, combined to complete a total of 1,538.73 metres of diamond core drilling from 22 holes at the Luisha South Project in January 2011. The holes targeted the down dip and southeast extensions of mineralization highlighted by the March 2010 geochemical sampling program and the June 2010 RC drilling program.
The RC drill program enabled a JORC and NI43-101F compliant resource estimation of the Luisha pit mineralization, resulting in an Inferred Resource of 5.8 million tonnes at 1.3% copper, and 0.4% cobalt for 75,400 tonnes of contained copper metal and 23,200 tonnes of contained cobalt metal (using 0.5% copper cut-off).
Source: PR Newswire
